Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Chainlink (LINK) is a decentralized oracle network designed to deliver trustworthy, real-world data to smart contracts on the blockchain. Its native cryptocurrency, LINK, powers the network. By bridging the gap between on-chain and off-chain systems, Chainlink enhances the functionality of smart contracts self-executing programs that trigger actions based on predefined conditions. LINK has a market capitalization of ~USD 6.46 billion (as per TradingView as of August 13, 2026).

For the week ended August 7, 2026, the S&P Cryptocurrency Broad Digital Market (BDM) Index gained 84.35 points, or 2.46%, to close at 3,516.18, as broad-based buying momentum continued across the digital asset market. The index maintained a positive momentum throughout the week, reflecting improving investor sentiment. At the start of the new trading week on August 10, the index initially came under selling pressure; however, the subsequent rebound lacked strong momentum, indicating limited buying conviction. While market sentiment has shown early signs of stabilisation, continued uncertainty across the cryptocurrency landscape remains a headwind for investor confidence. As a result, the near-term recovery remains vulnerable, with sustained buying interest required to confirm a stronger and more durable reversal.

Having understood the S&P Cryptocurrency BDM Index movement over the last week and the scenario for the upcoming week, one cryptocurrency that seems ‘Attractive’ at the current level appears to be Chainlink (LINK) based on the below technical parameters: -

Past performance is not a reliable indicator of future performance.